Trump Jr. Sees Crypto as Key to U.S. Economic Dominance

Former President Donald Trump Jr. has expressed his belief in the potential of cryptocurrency to secure America's economic dominance, as reported by CoinDesk. During a surprise appearance at the Ondo Summit in New York City on Thursday, Trump Jr. stated, "I think it’s perhaps the future of American hegemony, in terms of our economic status, our economic might." He also emphasized the need for a regulatory framework that allows cryptocurrency to flourish without being over-regulated by those who may not fully understand it.

World Liberty Financial (WLF), a crypto project supported by the Trump family, has recently invested in Ondo Finance's native cryptocurrency, ONDO. This move signals the Trump family's commitment to expanding their presence in the cryptocurrency space. WLF has also invested in various other cryptocurrencies, including Ethereum and Bitcoin, purchasing approximately $470,000 worth of ONDO tokens. As part of a broader strategy, WLF is preparing to launch the "Ondo Chain," a layer-one blockchain designed for tokenized assets.

Chase Herro, co-founder of WLF, has shared plans for the launch of a "strategic reserve" of crypto assets. This reserve will provide further liquidity and support for the crypto ecosystem, offering investors more diverse opportunities in a growing market. This focus on cryptocurrency aligns with TMTG's plans to launch a Bitcoin-backed ETF, named the Truth.Fi Bitcoin Plus ETF, showcasing their interest in both traditional and digital asset investments.

Meanwhile, potential members for former President Trump's upcoming crypto advisory board have been disclosed, according to a report by the New York Post. Notable figures from the digital currency sector, including former Kraken General Counsel Marco Santori, Ripple co-founder Brad Garlinghouse, and Circle CEO Jeremy Allaire, are positioned as leading candidates. Other industry experts like podcast host Frank Chaparro, Coinbase CEO Brian Armstrong, and Crypto.com CEO Kris Marszalek round out the list. This selection emphasizes the importance of industry expertise, with the criteria reflecting a commitment to informed guidance.

The establishment of the Digital Asset Market Working Group through a recent executive order by President Trump marks a pivotal moment for the crypto landscape. This move indicates a potential transformation in the U.S. government's approach to digital assets, a development highly regarded by market participants.